Hapag-Lloyd shares plunge after profit slide and narrowed full-year forecast
Investing.com - CLSA has initiated coverage on SICC Co Ltd (HK:2631) with an Outperform rating and a price target of HK$80.00, according to a research note released Monday.
The firm identifies SICC as the world’s second-largest silicon carbide (SiC) manufacturer by market share, noting the company’s leading technologies and wide product portfolio in the SiC substrates market.
CLSA projects an 18% revenue compound annual growth rate (CAGR) for SICC from 2024 to 2027, driven by the company’s capacity expansion plans.
The research highlights silicon carbide’s advantages of higher voltage resistance and energy efficiency, which are enabling it to replace and complement traditional silicon-based technologies in power semiconductors.
According to business consultancy Frost & Sullivan data cited in the report, the SiC power semiconductor market is expected to grow at a 35.2% CAGR from 2024 to 2030, reaching US$19.7 billion by the end of the forecast period.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.